Singapore, Singapore, November 19, 2021.
DoraHacks, a decentralized global community of developers and an open source incentive platform, has secured a $ 8 million strategic investment from Binance Labs, a venture capital branch and Binance innovation incubator.
DoraHacks is a global hackathon organizer and one of the most active Web3 developer communities in the world. It provides Web3 native on-chain tools to help developers around the world raise funds for their startups. In 2021 so far, more than 1,000 projects in the DoraHacks community have received over $ 12 million in grants and donations from supporters around the world.
Bill Chin, head of the Binance Labs fund, commented on the investment: “Supporting startups and developers at an early stage has always been a strategy for Binance Labs. DoraHacks is one of the largest multi-chain developer communities with large Web3 projects emerging. Binance Labs will further build crypto communities with DoraHacks as part of the investment and establish a more open and diverse blockchain world. As one of the initiatives, Binance Labs and DoraHacks are co-organizing the 3rd season of the Binance Labs incubation program. ”
To support their long-term vision for the growth of the Web3 development community, DoraHacks and Binance Labs plan to work closely together in the following areas:
Grants, funding, and incubation resources to support multiple early-stage Web3 startups
Joint research and development of innovative technologies of decentralized management and DAO infrastructure
Strategic partnership between BSC (Binance Smart Chain) and DoraHacks on BSC grants, hackathons and integration of Dora DAO infrastructure
Dora’s mission is to create a permanent global hacking movement. The Dora ecosystem includes the decentralized open source community of DoraHacks, the open source developer incentive platform HackerLink.io, the decentralized Hackathon community of Hackathon DAO, the DAO-as-a-Service infrastructure of DoraFactory, and dGov middleware such as Grant DoraID, privacy voting infrastructure, Moloch and multisign palettes.
Developers can build and fund DApps of decentralized management for open source communities and future decentralized autonomous organizations (DAOs) on the infrastructure provided by DoraHacks and Dora Factory. Currently, over 20 mainstream Web3 ecosystems – including BSC, Polygon, Filecoin, Solana, etc. – already uses Dora’s infrastructure to squarely manage its developer communities. DoraHacks has approximately 100,000 active users per month from 152 countries around the world.
Eric Zhang, founder of DoraHacks, said: “As of 2018, DoraHacks has partnered with Binance on 15 global hackathons and rounds of grants. Through DoraHacks development events and grant toolkits, Binance has distributed over $ 2 million to more than 100 teams. This new round of strategic investment will help us accelerate innovation in incentive mechanisms for developers, deliver more efficient products to support hackathon organizers and Web3 open source applications, and promote the infrastructure and development of the Dora Factory ecosystem. We are happy to see Binance share our vision to support Web3 developers around the world and help developers innovate freely to change the world. ”
Nicole Zhang, Investment Director of Binance Labs Fund, said: “Binance Labs has always been a strong advocate of open source culture. DoraHacks has developed a sophisticated infrastructure to support decentralized voting, funding, and early-stage participation in open-source blockchain projects. We believe that DoraHacks ‘large blockchain development community will provide endless support to Binance Labs’ investment portfolio, as well as to our wider ecosystem.. ”
DoraHacks is a global hackathon organizer and one of the most active Web3 developer communities in the world. DoraHacks provides Web3 native chain toolkits to help developers around the world raise funds for their startups. The basic features of DoraHacks range from Quadratic Funding Grant, Bounty, Hackathon, BUIDL NFT and Continuous Funding. In 2021, over 1,000 projects in the DoraHacks community received more than $ 12 million in grants and donations from supporters around the world.
Dora Factory is a DAO-as-a-Service infrastructure in the Dora ecosystem, which includes basic management DApps and Middleware such as Grant Factory, Privacy Voting Infrastructure, and DoraID for DAOs and open source communities.
For more information:
Web page: https://dorahacks.com
About Binance Labs
Binance Labs identifies, invests and empowers sustainable blockchain entrepreneurs, startups and communities, funding industrial projects that help develop a larger blockchain ecosystem. Binance Labs is committed to supporting teams that execute quickly and that positively impact the crypto space.
- Steve Ngok